How to Align Marketing Lifecycle with Customer Lifecycle for Profitability

Marketing Lifecycle

Let the truth be told, success is all about discovering options and picking the right one at the right time and, for a Retail Marketer that means connecting with the customer around the right event! Does this sound complex? Well, look closer and you will see that each part of this puzzle presents abundant opportunities; the trick is to piece it together. It is about going beyond demographic segmentation and raise your marketing from mass marketing to behavioral marketing, as we discussed in the blog post (ref). Let’s see how. These opportunities are easily recognizable when leading marketers gain visibility of the intersection of customer, product and marketing lifecycle. This intersection unveils undiscovered complex events that impact customer’s purchase behavior and presents marketers with the right capabilities to monetize them.

How to identify opportunities at the intersection of lifecycles?

An opportunity to connect with the customer at the moment that is most significant makes a marketer more relevant to her, as we discussed so far. Let us spend some time on understanding how these opportunities could be unearthed. Customer Lifecycle Marketing
The first step of discovering the significant intersection lies in how accurately and timely a marketer is able to map streams of customer data across the multiple points the customer interacts, such as, viewing the collection online, visits to the store, PoS data and loyalty data, to name a few. Once this data is accurately captured and minutely analyzed, some unique patterns could be discovered in buying behavior which will also indicate the different journeys that various customer groups undergo. While many of the patterns may point the usual, a keen eye will reveal some unique events. These events either demonstrate convergent or divergent behavior, understanding of which is gateway to customer relevance. It is at these events that marketing programs need to be aligned to influence the purchase behavior of the customer, so a new brand could be introduced or the customer can be presented with a suitable offer on a completely new product category. Path to profit goes through the milestones of customer relevance and endearment. If as a marketer we are relevant in the moment that matters, we are sure to stay in her mind longer. And, as we could see, customer all country brides leaves behind enough cues to enable us to recognize her desires, the trick is to pick up the hints and act on those before she changes her mind!

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Author- Manthan Editorial Desk

Manthan Editorial Desk
The Editorial Board comprises technologists, data experts, thought leaders and marketing gurus. We are dedicated in helping business leaders unlock the true potential of analytics.

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